Boston Properties, Inc. Announces Quarterly Dividend of $0.98 (NYSE:BXP)

Boston Properties, Inc. (NYSE:BXP) announced a quarterly dividend on Wednesday, December 18th,RTT News reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.98 per share by the real estate investment trust on Thursday, January 30th. This represents a $3.92 annualized dividend and a dividend yield of 5.28%.

Boston Properties has a dividend payout ratio of 200.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Boston Properties to earn $7.12 per share next year, which means the company should continue to be able to cover its $3.92 annual dividend with an expected future payout ratio of 55.1%.

Boston Properties Trading Down 7.6 %

Shares of BXP opened at $74.23 on Thursday. The stock has a market capitalization of $11.74 billion, a PE ratio of 32.13, a P/E/G ratio of 0.55 and a beta of 1.17. The company’s fifty day moving average is $82.23 and its 200 day moving average is $74.20. The company has a debt-to-equity ratio of 2.01, a quick ratio of 5.51 and a current ratio of 5.51. Boston Properties has a fifty-two week low of $56.46 and a fifty-two week high of $90.11.

Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). The business had revenue of $859.23 million during the quarter, compared to the consensus estimate of $829.91 million. Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.86 earnings per share. Sell-side analysts expect that Boston Properties will post 7.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BXP shares. Evercore ISI raised their price objective on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Wells Fargo & Company raised their price target on Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Truist Financial lifted their price objective on shares of Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Finally, Compass Point raised shares of Boston Properties from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $80.00 to $88.00 in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Boston Properties presently has a consensus rating of “Hold” and a consensus price target of $81.38.

Boston Properties Company Profile

Boston Properties, Inc (NYSE: BXP) (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.